Articles Posted in Client Lifetime Value

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Want to know how to pick the right clients?

Start with the right relationships.

Referral sources are critical to the success of any law firm. Marketing to these sources of repeat business is essential. If you are in a consumer-driven law practice area (criminal law, probate law, family law) you need to concentrate your marketing efforts on people who influence others in large numbers. These are the relationships that will deliver excellent results for you.

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Most attorneys would not know their ideal client if he walked up and punched them in the mouth. Legal marketing should help you identify and engage your ideal client. If you have not given any thought to the kinds of clients you are attracting you need to watch this video.

 

The legal marketing process begins with client identification. It then helps you position your firm and differentiate yourself from your competition. Knowing what you want is half the battle.

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One of the least understood metrics in law firm marketing. Client lifetime value can be summed up as the amount of revenue a client has give to your firm during the time your firm has done business with them. It is explained in this law firm marketing video.

 

There is another factor to take into account when calculating client lifetime value in law firm marketing. This is the amount of referrals a client has given to you during your relationship with them. If you have a way of tracking the referrals, you can and should take into account the referral dollars you receive from clients.